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22 Apr 2015
EUR/GBP remains in sub-0.7200 levels
FXStreet (Edinburgh) - The steady performances of both the sterling and the euro are keeping EUR/GBP in a tight range around the 0.7200 mark on Wednesday.
EUR/GBP eyes on EMU data, BoE
The lack of volatility in the global markets is prompting the cross to prolong its current consolidative pattern below the 0.7200 handle, while traders keep waiting fir a stronger catalyst.
Ahead in the session, the BoE will publish its minutes from the last MPC meeting, although consensus points to a repetition of the unanimous voting pattern suggesting no changes in the current monetary stance. On the EUR-side of the equation, the Consumer Confidence will be in the limelight.
EUR/GBP important levels
As of writing the cross is losing 0.03% at 0.7188 and a drop below 0.7156 (61.8% of 0.7015-0.7385) would open the door to 0.7154 (low Mar.19) and finally 0.7100 (psychological level). On the other side, the immediate up-barrier lies at 0.7270 (high Apr.10) ahead of 0.7279 (21-d MA) and then 0.7281 (10-d MA).
EUR/GBP eyes on EMU data, BoE
The lack of volatility in the global markets is prompting the cross to prolong its current consolidative pattern below the 0.7200 handle, while traders keep waiting fir a stronger catalyst.
Ahead in the session, the BoE will publish its minutes from the last MPC meeting, although consensus points to a repetition of the unanimous voting pattern suggesting no changes in the current monetary stance. On the EUR-side of the equation, the Consumer Confidence will be in the limelight.
EUR/GBP important levels
As of writing the cross is losing 0.03% at 0.7188 and a drop below 0.7156 (61.8% of 0.7015-0.7385) would open the door to 0.7154 (low Mar.19) and finally 0.7100 (psychological level). On the other side, the immediate up-barrier lies at 0.7270 (high Apr.10) ahead of 0.7279 (21-d MA) and then 0.7281 (10-d MA).